Energys Group Limited
Notes to the financial statements
For the year ended 30 June 2020
The company is a private company, limited by share capital, and incorporated in England and Wales. The address of the registered office is listed on the company information page. The principal place of business is Franklyn House, Daux Road, Billingshurst, West Sussex, RH14 9SJ. The principal activity of the company is stated in the Directors' report.
2.
Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
The financial statements are presented in Sterling which is the functional currency of the company and are rounded to the nearest whole £.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis as the directors believe that the company will continue in operational existence for a period of at least twelve months from the approval date of these financial statements. In reaching this conclusion, the directors have considered the impact of the Covid-19 pandemic, so far as reasonably possible, but due to its unprecedented impact on the wider economy, it is difficult to evaluate with any certainty the potential outcomes on the company's activities. The company remains dependent upon the support of a subsidiary company and the directors to continue in operational existence. If this assumption proves to be inappropriate, then adjustments may have to be made to adjust the value of assets to their recoverable amounts and to provide for any further liabilities which might arise.
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Exemption from preparing consolidated financial statements
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The
company
, and the
group
headed by it, qualify as small as set out in
section 383 of the Companies Act 2006
and the parent and
group
are considered eligible for the exemption to prepare consolidated accounts.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, less any impairment.
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